Kush Bank is delighted to announce that Ezra Group and Jedco have chosen them to be their mandate in the raising of $75 million in finance for their integrated energy value chain project in South Sudan, which was announced this week at South Sudan Oil and Power (https://bit.ly/3A1hgvV).
Again changing the way South Sudan is powered, Ezra Group combines logistics, refining, solar energy, and conventional generating power.
The capital raising will be carried out through a collaboration between Kush Bank’s Dubai, United Arab Emirates-based Investment Division and AIS Capital Advisors of Kenya.
The integrated value chain will use South Sudanese crude oil to use existing generation facilities, add 24 MW of power to the grid, integrate the supply chain, process product on-site at the generating facility, and transport crude down the Nile River.
Kush Bank Ag. CEO Ryan O’Grady said, “Today’s announcement gives us the talent and the track record to be able to work with large-scale projects across the oil and gas sector, demonstrating we have the capacity of what people think a national bank has to offer. The first is we are formalising a partnership for capital raising with a firm out of Kenya that has a history of raising over $1 billion for projects similar to what we are raising today.
“We are going above and beyond what people anticipate of us as a national bank operating here for more than ten years. Power is one of the economic sectors that we are embracing as we move toward being more strategically oriented. We have two wonderful announcements to make today.
“Building a local value chain allows us to control prices and deliver power at steady rates and without interruption,” Natnael Ghebrengus Ezra of Ezra said.
International collaboration and funding are needed to achieve it. Through our partnership with Kush Bank, we have access to the worldwide resources and funding necessary to successfully expand our business in South Sudan.
“Frontier investing takes partnerships with investors who understand the unique landscape of South Sudan, who are prepared to come in for the long-term to develop a nation, and who truly get the type of sacrifice and grit required to move these large-scale concepts to operational realities,” Leonard Mathu, Managing Director, AIS Capital Advisors, continued. I’m excited that our company is collaborating with an industry pioneer like Ezra and Jedco to develop this cutting-edge concept after 15 years of turning ideas into reality. As a national bank, Kush aims to cross boundaries, knock on doors, and make sure that our customers have access to a wide range of supports to satisfy their needs. The outcomes we achieve for our clients speak for themselves, and our relationships and worldwide workforce reflect the high level of services we provide, whether it is providing access to banking through our digital platform or arranging capital solutions on reasonable terms, continued O’Grady.
In 2023, the energy value chain project will be realised thanks to the collaboration of AIS and Kush Bank and Ezra Group in getting $75 million in funding from foreign institutional and private investors. “We are developing a domestic energy value chain here in Juba that will develop 24MW of power. It will continue to create an integrated value chain that sees us and our partners moving oil down the Nile directly to local power facilities, installing a mini refinery, and putting it to work. We will be announcing $105 million in mandates we have signed. We are here because the private sector has been clamouring for banking partners. We’re going to go at them hard,” O’Grady declared.
- South Sudan Oil and Power (SSOP) mandates Kush Bank and AIS Capital Advisors to finance a $75 million energy value chain
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